Blockchain tracker Lookonchain has revealed an incredible success story of a crypto trader who managed to achieve a mind-blowing 10,000,000% profit in less than two years by investing in a lesser-known meme coin called Pepe (PEPE). According to Lookonchain, this anonymous trader turned a mere $70.40 investment into a staggering $7.06 million in just 20 months.
The trader initially purchased 2.61 trillion PEPE coins with only 0.035 ETH, which was equivalent to $70.40 at the time. Despite selling off most of the PEPE holdings early on, the trader still managed to realize an astonishing return of over 100,000x on their initial investment. The remaining 189.4 billion PEPE coins, valued at $4.15 million, were deposited to Kraken recently.
In addition to this remarkable success story, Lookonchain also highlighted other Pepe traders who have reaped significant profits recently. One trader saw a gain of over 3,018% by holding onto their investment for more than a year. This trader turned $241,500 into $7.53 million by strategically selling off a portion of their PEPE holdings at the right time.
Another trader made a profit of $1.31 million by holding onto 240 billion PEPE coins for six months and selling them at a higher price. Despite witnessing profit-taking activities, Lookonchain noted that deep-pocketed investors are still actively buying PEPE coins, with one whale withdrawing 337.09 billion PEPE ($6.92 million) from Binance in the past 20 days.
At the time of writing, PEPE is trading at $0.00002113, experiencing a slight decrease of 2.4% in the last 24 hours. The crypto market continues to be a volatile and lucrative space for savvy traders looking to capitalize on meme coins and other alternative cryptocurrencies.
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Remember to always conduct thorough research and due diligence before making any investment decisions in the crypto space. The potential for high returns comes with high risks, so it’s essential to approach trading with caution and a well-informed strategy.